Babcock Ranch Q3 2021 Market Update

Babcock Ranch Q3 2021 Market Update
Babcock Ranch Q3 2021 Market Update

VIDEO TRANSCRIPT:

If you are thinking about moving to Babcock Ranch or already live here and want to upgrade; think twice before doing it without an agent on your side of the deal. Buying in Babcock can be an adventure and that’s why everyone should have an expert guide.

Who scales Mt. Everst, alone?…..???

Exactly.

The Babcock Ranch market is hot, has been hot, will be hot for the foreseeable future. One of the most significant factors can be attributed to our housing diversity. From Luxury Golf Course Condos, Single Family Homes, Villas, 7 existing communities and a wide range of home layouts for new construction to choose from, work with me and you won’t get stuck on the mountain of regret without a buyer side agent.

Welcome back to my YouTube channel. My name is John Garuti III, and I am YOUR local guide on Babcock Ranch Real Estate. 

Now if you watched any of my previous real estate updates, I spoke about how the Babcock market has been on fire. What I didn’t expect to happen actually did happen!

The Babcock Ranch real estate market has stayed hot throughout the summer which is atypical as we normally see the market cool off during these hot and humid months. What we are seeing though is a steady  demand to get in here, whether it’s new construction or buying a resale. 

For anyone new to my channel, please download my free buyers guide:  babcockranchbuyerguide.com to find out exactly why working with a local expert gives you the ADVANTAGE. 

Warning: I am going to fire off a lot of URLs like babcockranchbuyerguide.com in this video. If you don’t have a photographic memory, don’t stress because there is a link dump in the description below this video where you can find all these resources.

AND PLEASE, if there is one thing to remember, if all else slips your attention: if you are interested in buying a new construction home in Babcock Ranch, get in touch with me BEFORE contacting the builders. JG3 HOMES brings expertise to the table throughout the entire home buying process. 

You can reach me by phone or text at 941-916-2859 or by email at john@jg3homes.com. Ready to come visit in person? Visit tourbabcockranch.com  Again, all this information is in the description below the video for your convenience.

Let’s start our Q3 update with a little talk about the resale market! For the most part, all the resales in Babcock Ranch are going under contract in not months …  not weeks … but days!

I have represented buyers on resales this year and let me confirm: all these deals were done at asking price or just over. I have not seen any ridiculous bidding wars, but buyers should expect to pay full price. 

Now, there have been a handful of homes NOT “going under contract” right away and the only explanation is that they were priced incorrectly at the time the house was listed.

Even though our market is fetching top prices, it is crucial for anyone considering listing their home to get the asking price right from a locally versed expert. I have also seen a few homes sell under market value. Great for the buyer, not so much for the seller. 

So my best advice for anyone looking to sell their home is to ask your realtor a lot of questions. Quiz them on their knowledge of this town. I have guided buyers and sellers on the Babcock journey for years and work hard to maintain strong relationships with ALL of the builders inside the Hometown of Tomorrow.

Next, let’s move on to some exciting news – new neighborhoods! If you aren’t aware, Pulte opened Edgewater Shores this past June 2021.

Whereas sales bolted off, lightning fast, there are still amazing water lots and southern views of Founders Square still available. Make sure to check out my video on Edgewater Shores to learn more about this unique neighborhood. 

Pulte recently unveiled Northridge and they are scheduled to release lots starting in November. Northridge is nestled just west of the golf community Babcock National off Greenway Boulevard. If you would like to get regular updates on the development of Northridge, please visit northridgebabcockranch.com  Enter your information and waalaa, I keep tabs on the builders and their progress which gets released to my private groups, First! 

Two other new neighborhoods which have recently been announced are The Preserve and Crescent Grove. The Preserve, being built by D.R. Horton will consist of 154 villas. It’s still unclear when this neighborhood will open or where the price points will start. If you love the villa ‘style of living’ and want to be the first to get updates, please go to thepreservebabcockranch.com  fill out the form and you will receive details as they become available from yours truly.

Lastly, Meritage is opening Crescent Grove this MONTH! There are estimating around 110 single family homes. If you are watching this video, the first lots will begin selling soon, so make sure to get in touch with me ASAP so we can discuss added bonuses and incentives for homebuyers that invest, EARLY.

If you are looking to save money on a Meritage new construction, please go to crescentgrovebabcockranch.com Let’s get connected right away!

Let’s move on now to current buying opportunities. Unfortunately, we are in a transition period where more neighborhoods and builders are coming into Babcock Ranch while existing builders still struggle to keep up with demand. 

Getting into single family homes under $350k is quite challenging. However, if you are looking for very high end, custom work – Divco, Arthur Rutenberg, and Florida Lifestyle Homes are your go-to builders.

Starting in the range of $1m up to $1.5m+, then these are the builders we should set you up with. All of the builders are still sitting on the rights to breathtaking lakefront lots on Lake Babcock. Each of these builders offer a little something different to meet the demands and expectations of their price tag.

Currently, the two builders with the most availability are Pulte and Lennar. Lennar is steadily building on the golf course in National and of course their pioneer community, Trail’s Edge is currently working on a bid system. 

For those interested in a golf course single family home, Lennar will be  releasing a few every month moving forward. The executive golf course homes are already landing in the high 5’s. I expect when Lennar begins releasing estate homes again, they’ll probably be touching high 6’s and low 7s. There are still plenty of terrace and veranda condos open for sale. Call me to get the most accurate pricing. 

Let’s dive deep into Lennar’s Trail’s Edge as this is technically the most affordable place to buy a single family home right now. If you are unfamiliar with Lennar’s offer system, they release 3-4 home sites per week that already have the model selected. If you find a homesite and model you prefer, the next step is to go to Lennar and select your options. From there, you will receive an asking price and you place a bid over that asking price. Bids are normally due by Sundays at 5pm, and the bidder that is highest over their asking price wins the homesite. 

Originally, I expected this offer system to turn off many people, but the buyers keep coming. If you are wanting to build a Lennar home in Trail’s Edge, it will be wise to work with a realtor like myself who is constantly bidding and winning homesites. 

Finally, Lennar is also releasing  alleyway homes in Lake Timber. The Redbud and the Chestnut model come with some excellent upgrades over your standard Lennar home like a metal roof which is awesome to have in Florida! The alleyway homes should be for sale by the end of August or early September.

Let’s review Pulte again. Their original neighborhood Parkside recently released new lots for sale. Prices have gone up and some floor plans are no longer in production, but as of this taping there are still 10 lots available and an absolute chance to get one!

Realistically, if you want to get in Parkside, expect to pay a minimum of $425k. If you want a home with a pool you will definitely be approaching $500k. There are also alleyway homes available soon in Lake Timber. The Arbordale comes in right at $400k and features bonus amenities like a pool that was not previously available. 

There’s also a NEW Pulte Plan called the Woodview. I love this home, and am pretty fond of it as my sister purchased one up in Lakewood Ranch. If you love that alleyway style, but want a bigger 2 story home, then I would certainly recommend booking a tour with me by visiting tourbabcockranch.com

Pulte also recently acquired more lots in Lake Babcock Estates. They even have two lots right on Lake Babcock. Both of these lots require a specific floor plan called the Leyton. The Leyton is a more robust Dockside. If you want to build right on Lake Babcock, expect a price point around $800,000. 

There are also some huge (for Babcock Ranch) lots that Pulte has on the preserve side of Lake Babcock Estates. Most of the lots over there are half an acre and are scheduled to hold either a Dockside, Mariner, Palm, or Leyton. If you want to build in this section starting prices are $650,000 -$900,000. 

And lastly for Pulte, there is Edgewater and Edgewater Shores. Edgewater is starting to come to a close. Some opportunities remain, but these two neighborhoods are now running a bidding system like the one Lennar is operating in Trail’s Edge.

The difference with Pulte is you only have to bid on the lot, not the entire house and lot together.  Expect anywhere from 1-3 months before you can bid or write a contract.

The last part of this video, I’d like to dedicate to investment opportunities with Babcock Ranch properties.  I frequently get calls from investors looking for the best opportunity. The answer is: single-family home rentals. They are  the most lucrative due to scarcity and necessity! How can you get a single-family home at a great price and then rent it out for a great annual rate? 

My advice in this situation, invest in new neighborhoods when they first open while builders are offering incentives. As an added bonus to being my client, I will get you your first renter and write the contract as a complimentary ancillary service!

Well, ladies and gentleman, that is it for the 2021 Q3 Babcock Ranch Real estate update. If you like this video, make sure to hit that subscribe button. For more information on Babcock Ranch, check out the playlist! 

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